Google announced its brand new way to pay, it is a Near Field Communications (NFC) based mobile payment service called Google Wallet. Many companies are already tagging along with the service such as Subway, Macy’s, Walgreens, Toys ‘R Us, First Data, Citibank, and Mastercard and Sprint. Trials are beginning immediately in New York and San Francisco with a full release expected this summer. The Nexus S 4G will be the only phone able to use this feature for now, however ore phones will be receiving support later on. Google Wallet will support a PayPass eligible Citi MasterCard and a virtual Google Prepaid card. Most people who have a PayPass eligible Citi MasterCard can add it to Google Wallet over the air. You can fund the Google Prepaid card with any payment card. Google Offers is another feature announced which will deliver an “offer of the day” to your inbox. You will be able to search for other offers as well, and of course, redeem any deals. Right now Google Wallet is only available in the states but it should be going global soon. Here is a Google Video representing the Google Wallet Full Press Release: Google, Citi, MasterCard, First Data and Sprint Team up to Make Your Phone Your Wallet Google Wallet will enable consumers to tap, pay and save with their phones NEW YORK–(BUSINESS WIRE)–At an event today, Google, Citi, MasterCard, First Data and Sprint announced and demonstrated Google Wallet, an app that will make your phone your wallet so you can tap, pay and save money and time while you shop. For businesses, Google Wallet is an opportunity to strengthen customer relationships by offering a faster, easier shopping experience with relevant deals, promotions and loyalty rewards. “Macy’s is always looking for cutting-edge technology that will deliver value and engage our customers in personal ways. Google Wallet delivers this unique interaction across channels.” “Today, we’ve joined with leaders in the industry to build the next generation of mobile commerce,” said Stephanie Tilenius, vice president, commerce and payments, Google. “With Citi, MasterCard, First Data and Sprint we’re building an open commerce ecosystem that for the first time will make it possible for you to pay with an NFC wallet and redeem consumer promotions all in one tap, while shopping offline.” Google Wallet is currently in a field test and will be available to consumers this summer. At the event, Google, Citi, MasterCard, First Data and Sprint introduced Google Wallet and invited additional issuing banks, payment networks, mobile carriers, handset manufacturers, point of sale systems companies and merchants to join the initiative. Next Step in Mobile Payments At commercial launch, Google Wallet will support payments with two payment solutions:...